The market value for global Adhesive Tape Market was USD 54.3 Billion in 2022 and is expected to reach USD 88.67 Billion in 2032

NEW YORK CITY, NEW YORK, UNITED STATES, July 17, 2023/EINPresswire.com/ -- Adhesive Tape Market Overview

In 2022, the global Adhesive Tape Market was valued at USD 54.3 Billion. It is projected to grow at a CAGR of 5.6% during the forecast period and reach USD 88.67 Billion by 2032. The market's revenue growth is primarily fuelled by several factors, including the expansion of end-use industries like automotive, construction, and healthcare, the increasing demand for lightweight and cost-effective bonding solutions, and the overall growth of the packaging industry.
Adhesive tape is a versatile and long-lasting material utilized for joining or bonding two surfaces together. It finds applications in various industries such as packaging, healthcare, automotive, construction, and electronics. The surge in the packaging industry is a major driver behind the rising demand for adhesive tapes. The growth of e-commerce and online retail has resulted in an increased need for packaging materials, including adhesive tapes.

Adhesive Tape Market Segments

The global Adhesive Tape Market was valued at USD 54.3 Billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.6% during the period from 2022 to 2032. By 2032, the market's revenue is estimated to reach USD 88.67 Billion. The base year for estimation is 2022, and the historical data covers the period from 2020 to 2021. The forecast period spans from 2022 to 2032, with the revenue measured in USD billion.
The report on the Adhesive Tape Market provides comprehensive coverage, including a revenue forecast, company ranking, competitive landscape, growth factors, and trends. The market segments covered in the report include Type Outlook, Material Outlook, and Regional Outlook. This analysis aims to provide insights into the market's potential and assist stakeholders in making informed decisions.
Overall, the Adhesive Tape Market is expected to experience significant growth during the forecast period, driven by factors such as the expansion of end-use industries, the demand for lightweight and cost-effective bonding solutions, and the overall growth of the packaging industry.

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Adhesive Tape Market: Strategic Developments

• In 2021, 3M Company announced that it had completed the acquisition of M*Modal’s technology business, a leading provider of conversational AI-powered systems for healthcare providers. This acquisition is expected to enhance 3M’s healthcare data and analytics offerings.
• In 2020, Tesa SE announced that it had acquired the company Functional Coatings, a leading provider of high-quality adhesive tapes for industrial applications. This acquisition is expected to expand Tesa SE’s product portfolio and strengthen its position in the global Adhesive Tape Market.
• In 2020, Nitto Denko Corporation announced that it had entered into a joint development agreement with Tosoh Corporation, a leading Japanese chemical company, to develop and commercialize high-performance adhesive tapes. This agreement is expected to enhance Nitto Denko Corporation’s product offerings and strengthen its position in the global Adhesive Tape Market.

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Adhesive Tape Market: Competitive landscape

The global Adhesive Tape Market comprises several major companies that play a significant role in the industry. Some prominent companies in this market include 3M Company, Nitto Denko Corporation, Avery Dennison Corporation, Tesa SE, Henkel AG & Co. KGaA, Intertape Polymer Group, Inc., Scapa Group Plc., Lintec Corporation, Shurtape Technologies, LLC, and Lohmann GmbH & Co. KG.
These companies are actively involved in the production and distribution of adhesive tapes, catering to various industries and market segments. They compete in terms of product offerings, innovation, quality, pricing, and market presence. With a focus on meeting customer demands and staying ahead of the competition, these companies contribute to the growth and development of the Adhesive Tape Market.

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